SETM vs. COPX

Last updated Jun 24, 2026

SETM (Sprott Critical Materials ETF) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - SETM is a Materials fund tracking the Nasdaq Sprott Critical Materials Index, while COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 3 years, SETM returned 25.14%/yr vs 31.59%/yr for COPX. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.

Performance

SETM vs. COPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Critical Materials ETF (SETM) and Global X Copper Miners ETF (COPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SETM having a 11.16% return and COPX slightly lower at 10.71%.

SETM

• 1D: -4.08%
• 1M: -8.14%
• YTD: 11.16%
• 6M: 8.97%
• 1Y: 95.17%
• 3Y*: 25.14%
• 5Y*: —
• 10Y*: —

COPX

• 1D: -6.37%
• 1M: -4.64%
• YTD: 10.71%
• 6M: 10.01%
• 1Y: 92.36%
• 3Y*: 31.59%
• 5Y*: 19.08%
• 10Y*: 20.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SETM vs. COPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SETM Sprott Critical Materials ETF	11.16%	95.27%	-13.24%	-13.11%
COPX Global X Copper Miners ETF	10.71%	93.50%	3.57%	-8.36%

Correlation

The correlation between SETM and COPX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.80

The correlation between SETM and COPX has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

SETM vs. COPX - Sectors Allocation Comparison

Sectors	SETM	COPX
Basic Materials	76.0%	96.7%
Energy	22.9%	-
Industrials	1.0%	3.3%
Technology	0.1%	-
Consumer Defensive	0.1%	-
Communication Services	-	-
Consumer Cyclical	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SETM vs. COPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SETM

SETM Risk / Return Rank: 61
SETM Sharpe Ratio Rank: 66
SETM Sortino Ratio Rank: 51
SETM Omega Ratio Rank: 53
SETM Calmar Ratio Rank: 75
SETM Martin Ratio Rank: 62

COPX

COPX Risk / Return Rank: 60
COPX Sharpe Ratio Rank: 67
COPX Sortino Ratio Rank: 52
COPX Omega Ratio Rank: 54
COPX Calmar Ratio Rank: 69
COPX Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SETM vs. COPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Critical Materials ETF (SETM) and Global X Copper Miners ETF (COPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SETM	COPX	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.09	-0.04
Sortino ratio: Return per unit of downside risk	2.41	2.46	-0.05
Omega ratio: Gain probability vs. loss probability	1.32	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	3.70	3.34	+0.36
Martin ratio: Return relative to average drawdown	10.56	10.16	+0.40

SETM vs. COPX - Sharpe Ratio Comparison

The current SETM Sharpe Ratio is 2.05, which is comparable to the COPX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of SETM and COPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SETM vs. COPX - Drawdown Comparison

The maximum SETM drawdown since its inception was -42.81%, smaller than the maximum COPX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for SETM and COPX.

Drawdown Indicators

	SETM	COPX	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-83.16%	+40.35%
Max Drawdown (1Y) Largest decline over 1 year	-25.85%	-27.82%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	-42.81%	-39.72%	-3.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-65.41%	—
Current Drawdown Current decline from peak	-19.00%	-16.95%	-2.05%
Average Drawdown Average peak-to-trough decline	-15.03%	-39.24%	+24.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.04%	9.12%	-0.08%

Volatility

SETM vs. COPX - Volatility Comparison

The current volatility for Sprott Critical Materials ETF (SETM) is 17.16%, while Global X Copper Miners ETF (COPX) has a volatility of 19.05%. This indicates that SETM experiences smaller price fluctuations and is considered to be less risky than COPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SETM	COPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.16%	19.05%	-1.89%
Volatility (6M) Calculated over the trailing 6-month period	37.55%	39.12%	-1.57%
Volatility (1Y) Calculated over the trailing 1-year period	46.69%	44.42%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.23%	37.03%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.23%	35.74%	+1.49%

SETM vs. COPX - Expense Ratio Comparison

Both SETM and COPX have an expense ratio of 0.65%.

Dividends

SETM vs. COPX - Dividend Comparison

SETM's dividend yield for the trailing twelve months is around 1.41%, less than COPX's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.42%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
SETM Sprott Critical Materials ETF	1.41%	1.56%	2.07%	2.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SETM and COPX in my portfolio?

SETM and COPX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SETM or COPX?

COPX has higher volatility (19.05%) compared to SETM (17.16%). In terms of maximum drawdown, SETM dropped -42.81% vs COPX's -83.16%.

Which ETF is better, SETM or COPX?

On 3-year performance, COPX leads with 31.59% vs 25.14% for SETM. Both ETFs have the same 0.65% expense ratio. On volatility, SETM has been the lower-risk option at 17.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SETM or COPX?

Over the 3-year period, COPX has performed better with a 31.59% return vs 25.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SETM or COPX?

SETM and COPX have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, SETM or COPX?

COPX has the higher dividend yield at 2.42%, compared with 1.41% for SETM.

What is the main difference between SETM and COPX?

SETM is categorized as Materials, while COPX is Copper. SETM tracks Nasdaq Sprott Critical Materials Index, while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: Sprott and Global X.

Which has better risk-adjusted returns?

COPX currently has the higher Sharpe Ratio (2.09 vs 2.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.